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2.1.9 Flashcard Reviews

Amanda Ukasick

Created on September 19, 2025

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Transcript

What is the main purpose of the FCRA?

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Ensure fair, accurate, and private collection/reporting of consumer credit info by all CRAs.

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How do credit reports affect consumers?

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They determine credit scores, which influence mortgage rates and borrowing terms.

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What rights do consumers have under FCRA?

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Dispute errors, get written denial notices, receive annual free reports, and request their credit score.

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How must credit report information be maintained?

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Negative marks removed after 7 years, bankruptcies after 10, criminal convictions never expire; reports used only for legitimate business needs.

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question

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Answer

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question

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Answer DELETE "NEXT CARD" on the bottm right from the last flashcard

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